No. It was proposed by an independent fiscal commission of leading economists asked to examine currency options for an independent Scotland.

The experts, who included Nobel prizewinners Professor Joe Stiglitz and Prof James Mirrlees, said a range of different currency options could be successful. But they thought a currency union was the best.

Would we really be independent if we shared the pound?

Yes, France and Germany share a currency but everyone agrees they are independent countries. Belgium and Luxembourg were in a currency union for many years. From the 1930s until the 1970s a large, worldwide “sterling area” existed.

But the Westminster parties are saying they won’t let us share the Bank of England if we vote Yes.

The Bank of England is a publicly owned asset that Scottish taxpayers have contributed to. If Westminster grabs all the assets of the central UK bank then, under international law, it also gets lumped with the liabilities, ie the UK’s £1.3trillion debt.

So with no currency union, there’s no debt for us?

Absolutely scot free.

How much will we save?

Scotland’s share of debt interest is calculated at £5billion a year.

But the No campaign say Scotland would be considered a defaulter and our interest rates would go up…

Wrong. On January 13, 2014, the UK Treasury issued a statement to the money markets, saying it would honour all the UK debt if Scotland voted Yes.

This was despite the SNP government offering to pay in negotiations after a Yes vote.

You cannot default on debt that is not yours.

Why do Tories and Labour want to lumber the people of England, Wales and Northern Ireland with extra debt?

Good question.

Do they mean it?

A “senior UK minister” quoted in the Guardian said the threat was a campaign tactic and that “of course, there would be a currency union”.